The Asian markets have really made a good, much-needed, but temporary comeback to end the past week in the upward trend with bullish momentum. Almost all major indices of Asia have recovered throughout the week with a little bit of bearish movement on Friday. But on a week-over-week basis, the indices have seen a very respectful amount of growth in points.
Let’s break them index numbers one by one to see what is happening and where things can go from here.
Nikkei 225 of Japan:
The Nikkei 225 of Japan has ended the week in the green zone at 28,437 points with a gain of 367 points on a week-over-week basis. The index started the week on a slight upward trend and continued to grow with a peak in mid-week. After that things kind of stabilized and went in sideways followed by a considerable loss of points on Friday. Despite that, the index ended in green because of a week-long bullish momentum prior to Friday.
SSE Composite Index of China:
The SSE Composite Index of China has ended the week in the green zone at 3,666 points with a decent gain of 51 points on a week-over-week basis. The index had a rough start for the first two days of the week but then entered a high-speed bullish trend for the remaining trading sessions. Things went sideways and got bearish on Friday like how it happened with Nikkei 225.
Hang Seng Index of Hong Kong:
The Hang Seng index of Hong Kong has ended the week in the green zone at 23,995 points with an applause-worthy gain of 575 points on a week-over-week basis. The index was moving sideways for the first two days of the week then the bullish trend kicked in to move the pointer in an upward direction for the remaining trading sessions like how it happened with the SSE composite index of China.
Nifty 50 of India:
The Nifty 50 of India has ended the week in the green zone at 17,511 points with a pretty unexpected gain of 338 points on a week-over-week basis. The index saw sharp movements of loss and gain of points on the first two days of the week. Things then stabilized and moved in an upward trend for the next two days with bearish sideways movement kicking in on the last day of the week.
On an overall basis, almost all the major indices discussed in the blog post have recovered in a good way. But I consider this to be only a temporary recovery since there are basically three full weeks of trading is left for the year 2021. A lot can happen in this remaining time before the real recovery momentum on a value investing basis kicks in to move the markets in an upward direction for the next couple of quarters to come.
Thank you for reading this, and God Bless Everyone.
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